NZ dollar rises; bank capital rules less harsh than expected

NZ dollar rises; bank capital rules less harsh than expected
Jenny Ruth
The New Zealand dollar rose after the Reserve Bank's final decisions on bank capital proved less onerous than feared. The kiwi was trading at 65.35 US cents at 5pm after spiking at 65.62 cents earlier from 65.25 cents at 8am. The trade-weighted index was at 72.27 points from 72.14. The RBNZ extended the transition period for banks to increase their capital from five to seven years. Although it kept the tier 1 capital requirement for the big four banks at 16 percent of risk-weighted assets, up from 8.5 percent currently, it will allow 2...

More Markets

NZ sharemarket down 0.3% on quiet day
Markets Market close

NZ sharemarket down 0.3% on quiet day

The S&P/NZX 50 Index closed at 13,088.31, down 42.12 points or 0.32%.

Graham Skellern 20 Jan 2025
City Developments wants the rest of MCK
Markets

City Developments wants the rest of MCK

It has offered $2.25 per share for the 24% stake.

Riley Kennedy 20 Jan 2025
NZ sharemarket up over 1.8% for the week
Markets Market Close

NZ sharemarket up over 1.8% for the week

The S&P/NZX 50 Index closed at 13,130.43, up 129.76 points or 1%.

Graham Skellern 17 Jan 2025
Surviving Trump's ‘whack-a-mole’ tariffs
Markets

Brian Robins: Surviving Trump's ‘whack-a-mole’ tariffs

Trump's end game is to curtail China's trade position.

Brian Robins 17 Jan 2025